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A businessman deposited an amount of P6,000 in a savings account for 5months and 25 days at a rate of 7% per annum. Find the simple interest. 201.37 202.83 200.82 204.17

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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A businessman deposited an amount of P6,000 in a savings account for 5months and 25 days at a rate of 7% per annum. Find the simple interest.
O 201.37
202.83
200.82
O 204.17

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